An OKX user’s account was reportedly hacked by unknown hackers and they successfully stole $2 million worth of cryptocurrencies from his account.
Artificial intelligence (AI) can improve crypto trading by analyzing market trends and automating transactions, but it also comes with risks. AI-powered trading bots can cause market volatility and be exploited for fraudulent activities. Furthermore, the lack of transparency in AI algorithms can lead to unexpected financial risks. Good regulations are essential to limit these risks.
As we know, there are currently several types of AI tools available that can be used to create any type of digital product, even fake documents and fake identities. Over the past few years, bad actors have shown a significant inclination against the misuse of AI to carry out high levels of scams.
On June 3, 2024, popular Chinese Crypto blogger Colin Wu shared a story of an OKX crypto exchange user. According to the report, hackers bought the victim’s identity and then used that information to create fake AI-generated videos.
Hackers used deepfakes and leaked personal information to change victims’ OKX passwords and two-factor authentication (2FA). They stole over $2 million worth of crypto assets from the victim’s account.
So, all users of the centralized crypto exchange should be careful with deepfakes and always stay aware to protect personal information to prevent identity theft.
Hacking incidents are common in the crypto world, so crypto folks need to stay aware of cyber attacks from all sides.
Today, another report from Wu revealed that a Binance user lost his account control after downloading a plugin promoted by Google plugin Aggr. Hacker withdrew $1 million worth of cryptocurrencies from victim’s Binance account.
Also read: Tomorrow the first Australian Bitcoin spot ETF will start trading on Cobe